CN1427973A - System for facilitating trade processing and trade management - Google Patents

System for facilitating trade processing and trade management Download PDF

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Publication number
CN1427973A
CN1427973A CN01808157.6A CN01808157A CN1427973A CN 1427973 A CN1427973 A CN 1427973A CN 01808157 A CN01808157 A CN 01808157A CN 1427973 A CN1427973 A CN 1427973A
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parties
transaction
information
overview
computing machine
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P·霍华德·爱丁斯坦
克里斯托夫·J·沃尔什
克里斯托夫·G·史密斯
加里·S·福斯特
皮特·J·蒂尔尼
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MIG Ltd
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THOMSON FINANCE Inc
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Publication of CN1427973A publication Critical patent/CN1427973A/en
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    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
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    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/105—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems involving programming of a portable memory device, e.g. IC cards, "electronic purses"
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
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    • G06Q20/00—Payment architectures, schemes or protocols
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    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
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    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
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    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
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    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
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    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/12—Accounting

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Abstract

A system (10) for facilitating the processing and settlement of a securities trade is provided. The system includes a computer (26) which receives trade execution information (16) indicative of an executed trade by a first trading party (12) and trade allocation information indicative of an executed trade by a second party (18). The system also includes a database of trading party profiles accessible by the computer, the trading party profiles being indicative of acceptable trade parameters for each trading party. Executing on the computer (10) is a matching program (48) for comparing the trade execution information with the trade allocation information (22) and for determining that a match exists if the trade execution information (16) and the trade allocation information (22) correlate within the acceptable trade parameters supplied in the trading party profiles (50) for the first trading party (12) and the second trading party (18).

Description

Be used to promote the system of transaction processing and trade management
Invention field
The present invention relates to be used to promote the system of the processing and the clearing of security exchange, more especially relate to a kind of system that makes trade management process automation and pipelining, handle related time and the effort of security exchange thereby reduce, improve the reliability of trade management process simultaneously and notify all parties this stateful transaction when just handling when concluding the business.
Background of invention
Develop multiple systems and be used for automatic part security exchange industry.For example, open text GB 2 161 003 A of BrP and GB 2 210 714 A are at the system that distributes, handles and show Financial Information.Equally, United States Patent (USP) 4,949,248 disclose a kind of LAN (Local Area Network), are used for the share and access of information service or the shared control of application, particularly in the transaction place of securities broker company.Other system comprises the U.S. 4,346,442,4,376,978 and 4,774,663, they are at being used for operation and maintenance security service charge-cash management account (CMA), United States Patent (USP) 4,674,044,4,823,265 and 5,101,353 disclose the electronic transaction executive system.
But above-mentioned prior art systems does not all have the security at the speed of improving command communication and degree of accuracy and clearing house's execution transaction, and these instructions are used to exchange buying price.Therefore, prior art systems is not all finished (if any) by the patch work of fax, telegram and call between the parties and is suitably accelerated settlement of transactions.
Developed the system that robotization security exchange clearing and trade confirmation transmit, in order to compensate many deficiencies of above-mentioned prior art systems.These systems are commonly referred to electronic transaction and confirm (" ETC ") system, and these systems reduce task quantity and the most residue task of robotization of confirming that exchanges need, if do not use this ETC system, these tasks will manually be carried out.Therefore, compare with the traditional arduous manual method that exchanges messages in proper order with phone or telex, the ETC system that is just using has at present reduced time and effort that clearing stock exchange needs.But these prior aries ETC system still suffers their some shortcomings.
United States Patent (USP) 5,497,317 disclose the system according to a series of message that transmit back and forth between mechanism, middle man and superintendent.Therefore this prior art systems robotization needed many tasks of manual intervention in the past, and had therefore reduced the time that clearing exchange needs, typically in three days of the day of trade, so-called " T+3 ".But " T+3 " has been looked at as transition period in the security exchange industry, is not final goal.Estimate that Securities and Exchange Commission will require soon that (" T+1 ") settles accounts and even may be on the same day of the day of trade (" T+0 ") within a day of the day of trade.Operate as normal when above-mentioned prior-art devices is settled accounts at T+3, but may be subject to its artificial influence that realizes and cause the clearing failure under T+1 or T+0 situation, this is because each clearing need a large amount of people's consuming time reciprocation.One of reciprocation of these people is to confirm the final statement time limit according to the known information standard of parties arbitrarily or only.
Therefore, expect a kind ofly to be used to promote security exchange to handle and the system of clearing, thus reduce the clearing house take time, reduce quantity of information, the reciprocation number of times that reduces people in the settlement process that parties must import for each exchange, allow the clearing standard of parties regulation robotization and accelerate settlement of transactions, for the side of clearing provide value added data clearing, can be more reliably realize clearing, allow all parties to see stateful transaction in real time and can utilize the minimum input of parties to calculate the net amount of concluding the business in mouthful less than three days in transaction.
Summary of the invention
Therefore, the object of the present invention is to provide and a kind ofly be used to promote security exchange to handle and clearing, reduce the system that the clearing house takes time.
Another object of the present invention be to provide a kind of have above-mentioned feature be used to promote security exchange to handle and clearing and make system not need the user to import can to obtain these information to reduce the system of the quantity of information that parties must import.
Another object of the present invention be to provide a kind of have above-mentioned feature be used for promote security exchange to handle and clearing and reduce system at settlement process people's interactive number of times.
Thereby another purpose again of the present invention is to provide a kind of promotion security exchange with above-mentioned feature to handle and settle accounts and allows parties regulation robotization clearing standard to accelerate the system of settlement of transactions.
Another purpose more of the present invention is to provide a kind of promotion security exchange with above-mentioned feature to handle and clearing and provide the system of the clearing with value added data to parties, is used to warn the user may influence the relevant information of security exchange clearing in logic.
Another purpose again of the present invention is to provide a kind of promotion security exchange with above-mentioned feature to handle and clearing and can be implemented in the day of trade more reliably less than the system that realizes clearing in three days.
Another purpose more of the present invention is to provide a kind of promotion security exchange with above-mentioned feature to handle and settle accounts and allows all parties to see the system of stateful transaction in real time.
Another purpose again of the present invention is to provide a kind of promotion security exchange with above-mentioned feature to handle and clearing also can utilize the minimum input of parties to calculate the system of the net amount of transaction.
These and other objects of the present invention are by providing the system that promotes security exchange to handle and settle accounts to realize.This system comprises computing machine, and computing machine receives expression and carries out the transaction execution information of transaction and transaction is carried out in expression by second parties transaction assignment information by first parties.This system also comprises the database of the parties overview of computer-accessible, and this parties overview is represented the acceptable parameter transaction of each parties.What carry out on computers is matcher, execution information and transaction assignment information are used for relatively concluding the business, if in the acceptable parameter transaction that provides in the parties overview of first parties and second parties, transaction execution information is relevant with the transaction assignment information, then determines to exist coupling.
The execution information of preferably concluding the business and transaction assignment information comprise minimum paired data, and most of paired datas preferably include the designator of the number of designator, the day of trade, security identifier and the transaction share of whether buying and selling share.What carry out on computers is matcher, be used for relatively concluding the business execution information and transaction assignment information, and if the minimum paired data of transaction execution information corresponding to the minimum paired data of transaction assignment information then determine to exist pairing.When finding to have pairing, transaction execution information and transaction assignment information are sent to matcher to determine whether to exist coupling.
The execution information of preferably concluding the business comprises first parties sign, and the transaction assignment information comprises second parties sign, and computing machine is according to these first and second parties signs retrieval transaction side's overview from database.
If determine that existence is mated then the computing machine of system preferably produces affirmation, and this affirmation is sent to parties, confirm to detect coupling by matcher.This affirmation comprises necessary all data of settlement bargain.Preferably this parties overview comprises the affirmation form of expectation and the indication of agreement, this system comprises the translation program of carrying out on computers, is translated as the expectation of stipulating in the affirmation that will before confirming to be sent to parties computing machine be produced in the parties overview and confirms form and agreement.
Preferably this system also comprises a plurality of concentrated databases, and this database has the concentrated data of storage therein.The concentrated data that provide the concentrated program of carrying out on computers to be used for retrieving with a plurality of concentrated databases concentrate transaction execution information and transaction assignment information.Preferably this system comprises data administrator, allow parties to visit, revise and confirm their parties overview and concentrated database, and one of a plurality of concentrated databases has the service charge data that are stored in wherein.
And best first parties is the middle man, and transaction execution information is extracted from the order exercise notice that computing machine is received, and second parties is the investment manager, and the transaction assignment information is to extract from the distribution that computing machine is received.Preferably this system also comprises on computers the translation program of carrying out, and is used for extracting transaction execution information and extracting the transaction assignment information and will conclude the business execution information and the assignment information of concluding the business are translated into the form that computing machine can be used from distribute from the order exercise notice.
The present invention and special feature and advantage thereof become more obvious from the following detailed description of reference accompanying drawing.
Brief Description Of Drawings
Fig. 1 is used to promote security exchange to handle and the block scheme of the system of clearing according to the present invention;
Fig. 2 is the block scheme that key diagram 1 is used to promote the matcher operation of security exchange processing and settlement system;
Fig. 3 is the block scheme that key diagram 1 is used to promote the matcher operation of security exchange processing and settlement system;
Fig. 4 is the system's block scheme partly that is used to promote security exchange processing and clearing of explanation expression abnormality processing; With,
Fig. 5 is the block scheme of part that is used to promote security exchange processing and settlement system of representing how to carry out Fig. 1 of data management.
Of the present invention being described in detail
At first referring to Fig. 1, expression is according to the system 10 that is used to promote security exchange processing and clearing of the present invention.System 10 receives the Transaction Information that the expression transaction has been carried out from two parties.Typically, a parties is middle man 12, and the transaction system program 14 that information is carried out in the transaction that provides with order exercise notice 16 forms is provided for he.Another parties is investment manager 18 typically, and he has with what distribute transaction assignment information that 22 forms provide and meets (compliance) and allocator 20.But the situation that should be noted that middle man shown in the drawings and discussed herein and investment manager just is used for explanation, and parties is not limited to middle man and investment manager.Can imagine that any individual that participates in security exchange or mechanism can using systems 10, as long as provide two groups of Transaction Informations to system.
Because have many available transaction system programs 14 and meet allocator 20, order exercise notice 16 and distribution 22 also (for example can have multiple message format, financial information exchange (FIX), open financial exchange (OFX) or the like) and/or agreement (for example, system network architecture (SNA), transmission control protocol/Internet protocol (TCP/IP) or the like).For this reason, be provided at the translation program of carrying out on the central computer 26 of system 10 24.Translation program 24 receives order exercise notices 16, therefrom extract the transaction execution information 28 and the execution information 28 of will conclude the business converts the form that can be used by central computer 26 and the program of execution thereon to.Equally, translation program 24 receives and distributes 22, therefrom extracts the transaction assignment information 30 and the assignment information 30 of will concluding the business and converts available form to.To conclude the business execution information 28 and transaction assignment information 30 of translation program 24 is sent to the matcher of carrying out 32 on central computer 26 then.Should be noted that central computer 26 is not limited to single computing machine, and may comprise single computing machine or computer system.
As what see better in Fig. 2, matcher 32 receives transaction execution information 28 and transaction assignment information 30 and therefrom extracts one group of minimum paired data 34,36 (step shown in square frame 38).Minimum paired data 34,36 comprises the essence and the most basic feature of transaction, for example whether is is buying and selling the number of designator, the day of trade, security identifier and the transaction share of share.Then at square frame 40 relatively from the minimum paired data 34 of transaction execution information 28 with from the minimum paired data 36 of transaction assignment information 30, finds the pairing existence if minimum paired data 34,36 corresponds to each other.For example, be illustrated in 100 shares buying in IBM on January 1st, 1999, then find to exist pairing if assignment information 30 is sold and concluded the business to 100 shares of transaction execution information 28 expression IBM on January 1st, 1999.If find to exist pairing, then be sent to the matcher of on central computer 26, carrying out 48 in the transaction execution information 42 of square frame 46 pairings and the transaction assignment information 44 of pairing.If pairing do not occur, relatively the conclude the business transaction assignment information of execution information 28 and other groups of system 10, information is carried out in the transaction of the assignment information of relatively concluding the business 30 and other groups.If pairing appears in predetermined time cycle afterwards, then advise pairing appearance and do not have settlement of transactions to parties.
Represent at length that as Fig. 3 pairs trade carries out information 42 and pairs trade assignment information 44 is received by matcher 48.Matcher 48 extracts the parties sign from the transaction assignment information 44 that information 42 and pairing are carried out in the transaction of pairing, and utilize these parties sign inquiry parties profile databases 50, so that retrieve the parties overview (step shown in the square frame 52) of each parties.The parties overview that hereinafter will more discuss fully, it comprises the acceptable parameter transaction of each parties.Acceptable parameter transaction is each individual transaction configuration and can be according to any standard of multiple standards by each parties fully.The example that may be prescribed as these standards that can accept parameter transaction comprises (and nonrestrictive): couterparty (counterparty) sign, security sign, currency type, the conditions of contract, name day, agency, average price, wash one's hands continue to pay dues, price, always remuneration, service charge total value, service charge number percent, per share formality rate, the total remuneration of contract, contract service charge, land tax, local expenditure, other fees, issue corporate expense, net consideration and interest in red.Whether acceptable parameter transaction can be defined as the appearance coupling simply must satisfy standard.For example, as long as the concrete currency of discerning in its transaction execution or transaction assignment information is settled accounts, parties just can stipulate to occur coupling.For other standard according to numerical value, parties can be stipulated a scope, and typical earth surface is shown as absolute value or the number percent tolerance limit that coupling occurs.For example, parties can must be discerned in the Zheng Fu $100.00 of service charge total value in its transaction execution or transaction assignment information the coupling regulation service charge total value that occurs.Perhaps, parties can to occur coupling regulation service charge total value must transaction carry out or the transaction assignment information discern the service charge total value positive and negative 5% in.Certainly, parties can stipulate only to accept zero tolerance limit, and this requirement standard when coupling occurring is just relevant.In addition, parties may not be concerned about one or more standards, and can stipulate that unsight standard determines whether to exist coupling.Should be noted that the parties that preferably preferentially provides trading order form.Therefore, if the data that provide in having the concentrated transaction execution information of appended parties overview 76 with that the data that provide in the concentrated transaction assignment information of appended parties overview 78 are provided is inconsistent, will be used the data that provide in having the concentrated transaction assignment information of appended parties overview 78.Therefore, under the situation that has transaction between investment manager and the middle man, preferential with the controlled investment operator.
The parties overview can be configured to rely on the opposing party of pairs trade or can be independent of another parties.For example, parties can dispose first overview and have first group of match-on criterion, if the opposing party of transaction is the A of company, second overview has second group of match-on criterion, if the opposing party of transaction is the B of company, and general default overview has the 3rd group of match-on criterion, if the opposing party of transaction does not import specific overview, for example C of company or the D of company.
Also in step 52, matcher 48 data queries concentrate program 54, and data concentrate program 54 and inquire about a plurality of concentrated databases 56 again with retrieval and the parties and the relevant data of concluding the business.Concentrate database 56 information that keeps the parties of relatively-stationary information and a plurality of transaction to import from the next one transaction of concluding the business can be provided, for example fixed income data 60, move instruction and intersection consult 62, service charge 64, security details 66 and message format 68.Traditionally, this information must be imported by " distribution " and " affirmation " each transaction by parties.Concentrate database 56 information relevant with the security of concluding the business or concluding the business also can be provided, with parties during settlement process or inquisitive afterwards information, for example shareholder's decision-making and news 70, stateful transaction 72 and lose share 74 with stolen (stolen).Therefore, concentrating database 56 replenishes value added data and reduces the quantity of information that the each transaction of parties must be imported for the information that is provided by parties.Should understand, concentrate database 56 can with or can not place with central computer 26, and for example can comprise by independent agency and safeguarding and by the database of central computer 26 visits.
Carry out information and concentrated transaction assignment information by matcher 48 in the concentrated transaction that square frame 80 relatively has appended parties overview 76 then, to determine whether to exist coupling with appended parties overview 78.If it is relevant in the parameter that the parties overview of each side provides that data that the concentrated transaction execution information of appended parties overview 76 data that provide and the concentrated transaction assignment information with appended parties overview 78 provide are provided, then find to exist coupling.It below is an illustrative example.Concentrated transaction with appended parties overview 76 is carried out information representation and is bought the IBM share with $1000.00 US, service charge service charge $100.00 US, and match-on criterion is security sign and 5% interior price.Concentrated transaction assignment information with appended parties overview 78 is represented to buy the IBM share with US, and service charge is, and match-on criterion is a security sign and 5% interior in the total value that continues to pay dues.Because satisfy all match-on criterions, coupling appears in this example.Security signs is coupling fully, and two prices are in 5% scope each other, and two service charges are in 5% scope each other.
When finding the existence coupling, use concentrated transaction execution information and have the net amount of the concentrated transaction assignment information calculating transaction of appended parties overview 78 with appended parties overview 76 at square frame 82 matchers.Should be noted that to use to be stored in the information that concentrates database 56 and to have finished the calculating of net amount, and do not need parties manually to import these information, as traditionally by importing manually that " distribution " and " affirmation " carried out.Matcher 82 also uses the concentrated transaction execution information with appended parties overview 76 and has the concentrated transaction assignment information generation affirmation 84 of appended parties overview 78, and it comprises settlement bargain and necessary all information of value added data of retrieving from concentrated database 56.Because parties can be used many different computer systems, system 10 comprises and will confirm that 84 translate into the translation program 86 of parties readable message form and agreement.Affirmation 84 forms that are translated into and agreement have for example been retrieved from parties profile database 50 or message format data storehouse 68 between diakinesis in data.
Referring now to Fig. 4,, if but find that pairs trade is carried out information 42 and pairs trade assignment information 44 does not match, then produce abnormity notifying message 94 and be sent to the parties that relates to.At this moment, need manual intervention.If for example parties can determine to refuse to conclude the business and not satisfy the standard of parties then force coupling, or revises some information to satisfy the opposing party's standard.The instruction of abnormality processing 96 is sent to the exception handler of carrying out 98 on central computer 26 by parties.Exception handler 98 is carried out about how handling the parties instruction of transaction then.For example, exception handler can stop transaction processing, continue to handle transaction, though standard does not match, revise pairs trade execution information 42 and/or pairs trade assignment information 44 to meet each side's match-on criterion, continue to handle transaction according to exception handling instruction then from parties.Be to be understood that this unmatched situation is unusual rather than normal, and in the normal conditions that coupling occurs, do not need manual intervention.
Except acceptable parameter transaction, the parties overview can comprise the additional data about each parties.This data can comprise that data for example concentrate the information of rule and transaction processing rule, relate to the mode of system's 10 processing settlement process.For example, the concentrated rule of data can be stipulated that database of concentrated visit for value added data, maybe can stipulate a database, and the information that does not provide in the Transaction Information of particular transaction therefrom is provided.The transaction processing rule may relate to want settlement bargain disposal system 10 (for example, message based system before using, replace coupling with concrete transaction, or accept the information that other parties by concrete standard provides) maybe may relate to the mode (for example, need send to the affirmation of a plurality of positions) that system 10 communicates by letter with parties.Therefore, these data concentrate rule and transaction processing rule and allow parties how to work and allow the seamless integrated system 10 of parties more flexible in the existing systems in accurate selective system 10 transaction independent with respect to each.In addition, concentrating database 56 and data concentrates rule and provides and be connected to the information of deciding through consultation in advance and/or be the platform of the information of industry standard.
When system receives and during process information, the state of transaction and state details are by watch-keeping and be stored on the nonvolatile memory of stateful transaction database 72 or other form.This allows parties to see stateful transaction in real time.All pending transaction in system failure incident are handled in information and continuation that this also permission system retrieval is relevant with transaction.
Referring now to Fig. 5,, investment manager 18 and middle man 12 can utilize data administrator 88 visits, revise and confirm to be stored in the parties overview of parties profile database 50 and to be stored in the concentrated data that concentrate on the database 56.Data administrator 88 can be used to retrieve with editing transaction side's profile database 50 on storage data and replenish parties profile database 50 (shown in 90) with new data.Equally, data administrator 88 can be used to retrieve and edit the data of storage on many concentrated databases 56 and replenishes these concentrated databases 56 (shown in 92) with new data.In addition, concentrated database can and be confirmed by other authorized party's visit, modification.For example, shareholder's decision-making and news database 70 can constantly be revised by corporate news service center, so that database 70 comprises up-to-date information.Best, when parties is revised the overview of parties profile database 50 or any concentrated database 56, may be subjected to any other side that this modification influences situation about this modification with informing by data administrator 88.
Should understand that from top detailed description all data between system and each parties and message flow can be asynchronous.In other words, be different between the system of relying on and the parties prior art system of the message of exchange sequence series back and forth, the invention provides a kind of like this system, this system is independent of another parties and communicates by letter with each parties.This system has increased the speed of settlement bargain greatly.Should understand that also though the present invention helps the clearing of security exchange greatly, in fact this system itself does not carry out settlement of transactions.Also should understand, the configurability of parameter transaction and message format allow with the greater flexibility of the interface of parties.For example, one of transaction can be with aforesaid according to the preferred embodiment configuration-system.Therefore but the opposing party may get used to utilizing prior art system, and for example United States Patent (USP) 5,497, and 317 disclosed systems are incorporated herein by reference and uncommonly singly are received in message as described herein.This user can dispose aforesaid parameter transaction and message format to simulate this system.
Therefore, the invention provides a kind of system that is used to promote security exchange processing and clearing, it reduces the clearing house, and to take time, reduce parties be the quantity of information that each exchange must import, thus reduce people in the settlement process the reciprocation number of times, allow parties regulation robotization clearing standard and accelerate settlement of transactions, clearing with value added data be provided, can be more reliably realize clearing in three days days of trade, allow all sides of transaction see stateful transaction in real time and can utilize the minimum input of parties to calculate the net amount of concluding the business being less than for each side.
Although described the present invention with reference to the part of ad hoc arrangement, feature or the like, these do not get rid of all possible arrangement or feature, and in fact many other modifications and variations also are that those skilled in the art are determined.

Claims (53)

1. one kind is used to promote security exchange processing and the system that manages, and comprising:
Computing machine;
Carry out information by the transaction that described computing machine receives, described transaction is carried out information representation by the performed transaction of first parties;
By the transaction assignment information that described computing machine receives, described transaction assignment information is represented by the ordered transaction of second parties;
One group of predetermined parameter transaction accepted; With
The software of on described computing machine, carrying out, be used for more described transaction and carry out information and described transaction assignment information, if relevant in described group the predetermined parameter transaction accepted with described transaction assignment information, then determine to exist coupling with described transaction execution information.
2. according to the system of claim 1, wherein said group the predetermined parameter transaction accepted depends on the sign of first parties and second parties.
3. according to the system of claim 1, further comprise:
Database by the parties overview of described computer-accessible;
Wherein said transaction execution information comprises first parties sign, and described transaction assignment information comprises second parties sign;
Wherein the software of carrying out on described computing machine is retrieved the second parties overview according to first parties sign from the described database retrieval first parties overview with according to second parties sign; With
Wherein said group the predetermined parameter transaction accepted extracts from the first parties overview and the second transaction overview.
4. according to the system of claim 3, wherein the first parties overview depends on first parties sign and second parties sign, and wherein the second parties overview depends on second parties sign and first parties sign.
5. according to the system of claim 3, wherein the first parties overview depends on first parties sign and is independent of second parties sign, and wherein the second parties overview depends on second parties sign and is independent of first parties sign.
6. according to the system of claim 3, further be included in the software of carrying out on the described computing machine, allow the visit of first parties, revise and confirm the first parties overview, allow the visit of second parties, revise and confirm the second parties overview.
7. according to the system of claim 1, if wherein do not find to exist coupling, the software of carrying out on described computing machine produces and transmits abnormity notifying to first parties and second parties, notify them to detect unusually, further be included in the software of carrying out on the described computing machine, be used for receiving the instruction of abnormality processing and being used for according to the instruction process of abnormality processing unusual from least one side of first parties and second parties.
8. according to the system of claim 7, wherein the instruction of this abnormality processing comprise the instruction of refusal coupling and wherein this system closure handle this transaction.
9. according to the system of claim 7, wherein the instruction of this abnormality processing comprises instruction and wherein this system's this transaction of continuation processing that forces coupling.
10. according to the system of claim 7, wherein the instruction of this abnormality processing comprises that revising described transaction carries out at least one information instruction of information and described transaction assignment information and wherein this system's this transaction of continuation processing.
11. according to the system of claim 1,
Information is carried out in wherein said transaction and described transaction assignment information comprises minimum paired data;
Further be included in the software of carrying out on the described computing machine, be used for more described transaction and carry out information and described transaction assignment information, if the minimum paired data of the minimum paired data of information corresponding to described transaction assignment information carried out in described transaction, then described software determines to exist pairing; With
Wherein said adapting software is only having been found that relatively conclude the business after having pairing the execution information and the assignment information of concluding the business.
12. according to the system of claim 11, wherein minimum paired data comprises the designator of designator, the designator of the day of trade, security sign and the number of shares of concluding the business of whether buying and selling share.
13. system according to claim 1, further comprise: confirm if determine to exist coupling to produce by described computing machine, this affirmation is sent to first parties and second parties, confirms to be detected coupling and comprised necessary all data of settlement bargain by described adapting software.
14. the system according to claim 1 further comprises:
A plurality of concentrated databases have the concentrated data of storage thereon; With
The software of carrying out on described computing machine utilizes from the concentrated data of described a plurality of concentrated database retrievals and concentrates described transaction execution information and described transaction assignment information.
15. according to the system of claim 14, further be included in the software of carrying out on the described computing machine,, then utilize the transaction that concentrates to carry out information and calculate the transaction net amount with the transaction assignment information that concentrates if determine the existence coupling.
16. according to the system of claim 14, further be included in the software of carrying out on the described computing machine, be used to allow the visit of first parties and second parties, revise and confirm described concentrated database.
17. according to the system of claim 14, one of wherein said a plurality of concentrated databases comprise the service charge database.
18. according to the system of claim 14, one of wherein said a plurality of concentrated databases comprise the stateful transaction database.
19. according to the system of claim 18, further be included in the software of carrying out on the described computing machine, be used to allow first parties and the second parties access transaction slip condition database, so that check the real-time status of transaction.
20. according to the system of claim 1, wherein first parties is that middle man and wherein said transaction execution information are to extract from the order exercise notice that described computing machine is received.
21. according to the system of claim 20, wherein second parties is that investment manager and wherein said transaction assignment information are to extract from the distribution that described computing machine is received.
22. system according to claim 21, further be included in the software of carrying out on the described computing machine, being used for extracting described transaction from the order exercise notice carries out information and extracts described transaction assignment information and be used for that information is carried out in described transaction and described transaction assignment information is translated into the form that described computing machine can be used from distribute.
23. a system that is used to promote security exchange processing and management comprises:
Computing machine;
Carry out information by the transaction that described computing machine receives, described transaction is carried out information representation by the performed transaction of first parties with comprise first parties sign and minimum paired data;
By the transaction assignment information that described computing machine receives, described transaction assignment information is represented the transaction of being ordered by second parties and is comprised second parties sign and minimum paired data;
Comprising can be by described computer access and the database that can be identified a plurality of parties overviews of retrieval by parties, and this parties overview is represented acceptable parameter transaction;
A plurality of concentrated databases have the concentrated data of storage thereon;
The software of carrying out on described computing machine utilizes from the data of described a plurality of concentrated database retrievals and concentrates described transaction execution information and described transaction assignment information;
The software of carrying out on described computing machine is used to allow the visit of first parties, revises and confirms the first parties overview and described concentrated database, is used to allow the visit of second parties, revises and confirms the second parties overview and described concentrated database;
The software of carrying out on described computing machine is used for more described transaction and carries out information and described transaction assignment information, if the minimum paired data of the minimum paired data of information corresponding to described transaction assignment information carried out in described transaction, then determines to exist pairing;
The software of Zhi Hanging on computers, there is pairing if having been found that, be used for more described transaction and carry out information and described transaction assignment information, if in the acceptable parameter transaction that the parties overview of the parties overview of first parties and second parties provides, it is relevant with described transaction assignment information that information is carried out in described transaction, then determines to exist pairing;
The software of carrying out on described computing machine if determine the existence coupling, then utilizes the transaction that concentrates to carry out information and calculates the transaction net amount with the transaction assignment information that concentrates; With
If determine to exist coupling, produce affirmation by described computing machine, this affirmation is sent to first parties and second parties, confirms to be detected coupling and comprised necessary all data of settlement bargain by described adapting software.
24. according to the system of claim 23, one of wherein said a plurality of concentrated databases comprise the stateful transaction database.
25. according to the system of claim 24, further be included in the software of carrying out on the described computing machine, be used to allow first parties and the second parties access transaction slip condition database, so that check the real-time status of transaction.
26., wherein be used for the sign that each parties overview of first parties and second parties depends on the parties that receives overview according to the system of claim 23.
27. according to the system of claim 23, wherein the first parties overview depends on first parties sign and second parties sign, wherein the second parties overview depends on first parties sign and second parties sign.
28. according to the system of claim 23, wherein the first parties overview depends on first parties sign and is independent of second parties sign, wherein the second parties overview depends on second parties sign and is independent of first parties sign.
29. system according to claim 23, if wherein do not find to exist coupling, the software of carrying out on described computing machine produces and transmits abnormity notifying to first parties and second parties, notify them to detect unusually, further be included in the software of carrying out on the described computing machine, be used for receiving the instruction of abnormality processing and being used for according to the instruction process of abnormality processing unusual from least one side of first parties and second parties.
30. according to the system of claim 29, wherein the instruction of this abnormality processing comprises the instruction of refusal coupling, the processing that this system closure should be concluded the business.
31. according to the system of claim 29, wherein the instruction of this abnormality processing comprises the instruction that forces coupling, this system continues to handle this transaction.
32. according to the system of claim 29, wherein the instruction of this abnormality processing comprises that revising described transaction carries out at least one information instruction of information and described transaction assignment information and wherein this system's this transaction of continuation processing.
33. according to the system of claim 23, wherein minimum paired data comprises the designator of designator, the designator of the day of trade, security sign and the number of shares of concluding the business of whether buying and selling share.
34. system according to claim 23, each side of wherein a plurality of parties overviews comprises the indication of expectation affirmation form and agreement, further be included in the software of carrying out on the described computing machine, be used for before confirming to be sent to first parties with confirm to translate into expectation that the first parties overview stipulates confirm form and agreement and will confirm to be sent to second parties before confirm form and agreement with confirming to translate into the expectation of stipulating in the second parties overview.
35. according to the system of claim 23, one of wherein said a plurality of concentrated databases comprise the service charge database.
36. system according to claim 23, wherein first parties is the middle man, wherein said transaction execution information is to extract from the order exercise notice that described computing machine is received, wherein second parties is the investment manager, and wherein said transaction assignment information is to extract from the distribution that computing machine is received.
37. system according to claim 36, further be included in the software of carrying out on the described computing machine, being used for extracting described transaction from the order exercise notice carries out information and extracts described transaction assignment information and be used for that information is carried out in described transaction and described transaction assignment information is translated into the form that described computing machine can be used from distribute.
38. a method that promotes that security exchange is handled and managed comprises step:
Receive transaction execution information, this transaction carry out information representation by first parties carry out transaction and comprise that first parties identifies;
Receive the transaction assignment information, described transaction assignment information is represented the transaction of being ordered by second parties and is comprised second parties sign;
The database that comprises a plurality of parties overviews is provided, and each parties overview comprises the indication that can accept parameter transaction;
From database, retrieve the first parties overview and from database, retrieve the second parties overview according to first parties sign according to second parties sign; With
The execution information of relatively concluding the business and transaction assignment information, if relevant with the transaction assignment information, determine that then existence mates with transaction execution information in the indication of the indication of the parameter transaction accepted that in the first parties overview, provides and the parameter transaction accepted that in the second parties overview, provides.
39. according to the method for claim 38,
The execution information of wherein concluding the business and transaction assignment information comprise minimum paired data;
In described comparison with before determining to have the step of coupling, further comprise relatively conclude the business execution information and transaction assignment information, if the smallest match data of the execution information of should concluding the business corresponding to the smallest match data of this transaction assignment information, then determine to exist the step of pairing; With
Wherein only have been found that have pairing after, just transaction execution information and transaction assignment information are carried out described comparison and determine to exist the step of coupling.
40. method according to claim 38, comprise further if definite existence is mated producing and transmit the step of confirming to give first parties and second parties that necessary all data of settlement bargain are mated and comprised to definite having been detected by matcher of this affirmation.
41. method according to claim 40, wherein the first parties overview and the second parties overview comprise the indication of expectation affirmation form and agreement, further be included in before confirming to be sent to first parties and confirm form and agreement and will will confirm to translate into the step that form and agreement are confirmed in the expectation of stipulating in the second parties overview before confirming to be sent to second parties confirming to translate into the expectation of stipulating in the first parties overview.
42., further comprise the step that software is provided according to the method for claim 38, allow the visit of first parties, revise and confirm the first parties overview, allow the visit of second parties, revise and confirm the second parties overview.
43., further comprise step according to the method for claim 38:
A plurality of concentrated databases are provided, have the concentrated data of storage thereon; With
Concentrate data and concentrated transaction execution information and transaction assignment information from concentrating database retrieval with concentrating data.
44., further comprise if definite existence is mated and utilize concentrated transaction execution information and concentrated transaction assignment information to calculate the step of the net amount of concluding the business according to the method for claim 43.
45. method according to claim 43, further comprise the step that software is provided, allow first parties visit, revise and confirm the first parties overview and concentrated database and allow the visit of second parties, revise and confirm the second parties overview and concentrated database.
46. according to the method for claim 38, wherein first parties is the middle man, further comprises the step of extracting transaction execution information from the order exercise notice.
47. according to the method for claim 46, wherein second parties is the investment manager, further comprises the step of extracting the transaction assignment information from distribute.
48., further comprise the step of transaction execution information and transaction assignment information being translated into available formats according to the method for claim 47.
49. method according to claim 38, further comprise if transaction execution information is uncorrelated with the transaction assignment information in the indication of the indication of the parameter transaction accepted that provides in the first parties overview and the parameter transaction accepted that provides in the second parties overview, then produce and transmit abnormity notifying, notify them unusual step to occur to first parties and second parties.
50., further comprise from least one first parties and second parties receiving the instruction of abnormality processing and handling unusual step according to this exception handling instruction according to the method for claim 49.
51. according to the method for claim 50, wherein the instruction of this abnormality processing comprises the instruction of refusal coupling, further comprises the step that stops this transaction processing.
52. according to the method for claim 50, wherein the instruction of this abnormality processing comprises the instruction that forces coupling, further comprises the step that continues to handle this transaction.
53. according to the method for claim 50, wherein the instruction of this abnormality processing comprises at least one information instruction of transaction execution information and transaction assignment information, wherein this system continues to handle this transaction.
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CN107798603B (en) * 2016-12-26 2021-03-30 深圳壹账通智能科技有限公司 Transaction data processing method and device

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CA2403698A1 (en) 2001-08-23
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US7143060B2 (en) 2006-11-28
US20020016761A1 (en) 2002-02-07
AU3830101A (en) 2001-08-27
US7765133B1 (en) 2010-07-27
RU2002124572A (en) 2004-02-20
US7945493B2 (en) 2011-05-17
BRPI0108429B1 (en) 2016-10-11
BR0108429A (en) 2004-06-22
US20020004777A1 (en) 2002-01-10
WO2001061602A1 (en) 2001-08-23
JP4828071B2 (en) 2011-11-30
US20010051908A1 (en) 2001-12-13
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RU2259586C2 (en) 2005-08-27
AU2001238301B2 (en) 2005-10-20

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